Crypto
Sandbox Base Network Breach Creates 500M New Tokens
The Sandbox's Base network has been hit by a security breach, resulting in the unauthorized creation of over 500 million SAND tokens. This represents a roughly 17% dilution of The Sandbox's entire token supply, which is capped at 3 billion tokens.
The exploit targets a smart contract flaw in The Sandbox's SAND token deployment on the Base network, allowing attackers to mint tokens out of thin air.
On-chain data suggests that the exploit remains active, meaning additional tokens could still be minted as the situation develops. The identity of the attackers and the final destination of the minted tokens are unknown.